An Overview of Personal Loans

With the economy in such dire straits, many people are looking to different types of loans to take care of their bills while searching for second jobs. Personal loans are loans made directly to the borrower from a bank or lending house. Covering everything from medical bills to credit cards to student loans, these loans are helping people get what they need, when they need it. While there are many different types of personal loans, the can all be categorized as one of two different types: secured and unsecured. Which type of loan you get is dependent on what you will be using the money for. Some loans are available in both secured and unsecured options, while others are only found as one or the other.

Secured personal loans are provided by specific lenders, and have their repayment secured by a physical item. This is how they get their classification. The two most common types of secured loans are home mortgages and car loans. The loans are made specifically for a single purchase. This purchase is repaid in set amounts every month over the length of the loan. If payments are ceased, the lender repossesses the item – the car or the house – in lieu of payment. In contrast, Unsecured Personal Loans are the more common and the more recognizable. Unsecured loans cover a vast majority of ground, from store lines of credit to student loans to medical bills. Once these loans are issued, they can be used for a range of items and services. In addition, many unsecured loans have variable interest rates that can change monthly or annually.

For people who need extra money to pay for a car or a college education, personal loans are available to help fund their needs lenders are available for all credit situations.

Interest Rates on Wednesday for Home Mortgages at HSBC, Citibank Jul 30, 2014

HSBC

The benchmark 30 year fixed rate loan interest rateshave been listed at 4.190% at HSBC Bank (NYSE:HBC)yielding an APR of 4.275%.The best 30 year FHA loan interest rateshave been listed at 4.000%with a bit higher APR of 4.189%.30 year VA loan interest ratesare listed at 4.125%and APR of 4.300%.

15 year fixed rate mortgage interest rateshave been quoted at 3.375%and an APR of 3.518%.



Fannie Mae Ending HomePath Mortgages

Thursday, Jul 24, 2014

One of the better deals in real estate is coming to an end, as Fannie Mae is retiring its HomePath mortgage options for foreclosed properties this fall.

Effective Oct. 6, both the HomePath Mortgage and HomePath Renovation Mortgage products are being discontinued. The two initiatives offer owner-occupant buyers and investors special financing arrangements on foreclosed homes in the Fannie Mae inventory.

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Study: Fewer Women Seeking Professional Help When It Comes to Managing …

A new study shows fewer women are seeking professional help when it comes to managing their money. NY1s Tara Lynn Wagner filed the following report.

When it comes to handling day-to-day finances, women think they are doing pretty well. Thats according to Prudentials latest research study, which was the main item on the menu at a recent breakfast panel. When asked to grade their knowledge of things like managing money or managing debt, roughly one-third of female respondents gave themselves an A.

Where they need to hit the books, however, is their understanding of long-term planning tools.

They understand checking accounts and savings accounts and CDs, they understand credit...

Seniors’ needs top agenda of Canada’s first financial literacy leader

Why target seniors first? To find out, I recently talked to Jane Rooney, appointed by the federal government in April as Canada's first financial literacy leader. Here's an edited transcript of our conversation:

Many people believe that the focus of financial literacy should be teaching money skills in schools so that young people can avoid the mistakes of older Canadians. Why the emphasis on seniors?

We agree that financial literacy needs to be taught in schools, and it is being taught in all educational jurisdictions in Canada. The reason why we're focusing on seniors initially is a recent financial capabilities survey that shows they are having difficulty making financial...

Team helps tenants get £1.9million

Hundreds of housing association residents are better off after taking advice from their landlord.

Isos Housing, which manages former Castle Morpeth Council homes, helped tenants to secure an additional £1,9million in the last financial year by offering benefits and budgeting advice.

Its Financial and Social Inclusion team provides advice on a range of issues, such as coping with welfare reform, employment, fuel poverty, managing debt, avoiding illegal money-lenders, setting up bank accounts and appealing against benefit decisions.

In the last three years the team has expanded from three staff to seven and helped residents to claim £4.2million...

CIBC Poll: Fewer Canadians taking action to pay down their mortgages faster

Despite todays low interest rates, expected age to become mortgage-free slowly creeps up

TORONTO, July 21, 2014 /CNW/ - A new CIBC (TSX: CM) (NYSE: CM) poll finds there has been a significant decrease in the number of Canadians using todays low interest rates as an opportunity to accelerate repayment of their mortgages. While over half of Canadians with mortgages (55 per cent) are taking one or more actions to pay their mortgages down sooner, a similar poll last year found that more than two-thirds (68 per cent) were taking steps to accelerate their repayments.  The poll also finds Canadians with mortgages saying, on average, that they will be 58 years of age before they become...

NAB says mortgages well under control

Households are paying off their home loans faster as banks slash interest rates to record lows, with National Australia Bank saying 85 per cent of its mortgage customers are ahead of their minimum repayments.

New figures from NAB show a high proportion of customers in its $241 billion home loan book continue to pay more than the monthly minimum on their mortgage, putting them further ahead of their payment schedules.

In another sign of consumer caution, the banks customers are paying off credit card debt faster, with the number of accounts paid in full rising 6 per cent in the past year.

These development have come as the major...

Barriers being broken at Kimba

So people can feel more comfortable or confident to seek help, know where to turn, how to reach out to friends or family in need, gain more knowledge about depression or anxiety and how to can manage highs and lows in life, she said.

The night was mostly aimed at men in the community after an extremely successful event for women in April.

Mental Health Port Augusta team leader Shirley Rochford introduced herself to the audience with a touch of humour and shared how she and other health professionals can help.

The group thought it was important to include relevant speakers that could relate to the country way of life, sport, family and small towns and engaged former Burra...

Study: Fewer Women Seeking Professional Help Managing Money

When it comes to handling day-to-day finances, women think they are doing pretty well. Thats according to Prudentials latest research study, which was the main item on the menu at a recent breakfast panel. When asked to grade their knowledge of things like managing money or managing debt, roughly one-third of female respondents gave themselves an A.

Where they need to hit the books, however, is their understanding of long-term planning tools.

They understand checking accounts and savings accounts and CDs, they understand credit cards, and they get what it means to have a mortgage, but they dont really get it about mutual funds as much, says Lynnette Khalfani-Cox, founder...

Cal Expo police arrest Sacramento man accused of using forged credit cards

A 21-year-old man is in jail, accused of burglary and using forged credit cards, following an investigation by the Cal Expo Police Department.

Cal Expo officers served search and arrest warrants in the 7200 block of Greenhaven Drive in Sacramento about 7:45 am Tuesday.

The warrants resulted from a 10-day investigation prompted by unauthorized activity on a California State Fair patron#x2019;s credit card on July 11. The unauthorized activity did not take place on Cal Expo property, but the patron was made aware of the fraud while at the State Fair, according to a Police Department news release.

Arrested was Darius Deangelo Evans. Police said Evans was found...

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